The US labor market looks stronger than expected. But not strong enough for the Fed to relax.

Unemployment is 4.3% compared to 4.4%. That is, no weakness is visible.

NFP - 178K against a forecast of 65K. After a decline, this looks like a sharp rebound. The economy is clearly not falling apart.

And this is where the tension begins.

Because such figures are an argument for 'not rushing' into rate cuts.

But then another part of the picture.

Wages are slowing down. 3.5% y/y and 0.2% m/m - below expectations.

And this is already a signal for inflation. Pressure may weaken.

And it results in almost perfect, but slightly annoying balance.

The economy holds.

Inflation is potentially cooling.

For $BTC and $ETH it sounds good. But not good enough for the market to immediately believe in a quick pivot.

Because the Fed looks primarily at the stability of the economy. And it exists here.

Therefore, the reaction is usually mixed. There is hope. But without euphoria.

It seems that the market has again received not an answer, but a reason for controversy.

And it is precisely in such moments that movement is formed not by facts, but by interpretation.